The best method is definitely with the Remitbee Wallet. The wallet is a FINTRAC Canada-regulated wallet that you can load up and use to transfer funds to the Philippines. Fund your wallet in advance to make super-quick transfers when the rate is best. CAD to PHP transfers over $500 is free via the Remitbee Wallet too. However, don’t worry, If you’re doubtful. They also have bill payment and Interac E-transfer payment options available. Your bank in Canada might not offer you the best rate to send funds to the Philippines. But there are a lot of devoted fund transfer services that will allow you to send money to a bank account in the Philippines at the best rate. When transferring funds overseas, there are a lot of options at your disposal these days. All of them come with various caveats that may include exchange rates, freight, sale processing time, security and sequestration, and so on.
How to send funds to The Philippines
Subscribe Up to Use Remitbee
Subscribing is always free. You can subscribe using their website or download the app from the Apple App Store or Google Play Store to start transferring funds transfers to The Philippines.
Prove Your Identity
Security is the key objective at Remitbee, but so are its benefits. You can prove your identity first and smoothly to start transferring your funds in no time at all.
Add Your receiver in The Philippines
You can send it directly to your receiver’s bank account in The Philippines. Pick-up and delivery options are also available for the Philippines money transfers.
Choose a Payment System
You can deposit your Remitbee Wallet from your bank account or use the Visa Debit, Mastercard, or Interac E-transfer payment options to send funds to The Philippines in a flash.
View the Exchange Rate CAD to PHP
Confirm the up-to-date exchange rate and confirm charges if there are any. You can view all of this information before you transfer, as there are no unforeseen fees or charges later.
Get Back to What Matters
Transfers can take as little as 3 minutes or over 1 business day. Remit the funds to The Philippines before 8 pm and they’ll arrive in just a few hours. The most important thing to watch out for is unforeseen charges when transferring funds to the Philippines from Canada. Most of the time, you’ll get ripped off if you have no choice or more choices. For example, if you send funds to the Philippines using your bank, you’re most likely paying high fees. You may also not be getting the best exchange rate on your Philippine Peso foreign exchange sale.
Fee rate
When you pay with debit or Interac, 100 percent of the fees go to payment processing. They simply take a small periphery of 0.3 to 0.8 percent on the exchange rate. The exact number ranges among receiving countries.
The following is what the fees go towards;
- 50 percent goes to their monthly salaries and product development to support a healthy group and continue creating results for the clients.
- 25 percent goes for admin and cost of operations, including day-to-day office costs, rent, and office inventories.
- 15 percent goes to banking, compliance, and security to keep your funds safe and make sure all civil regulations are followed.
- 10 percent goes to pressman payout fees.
Remitbee wallet
Subscribe Up
Subscribe to Remitbee for your free account and access to your substantiated Remitbee wallet.
Fund your Wallet
Add finances to your Remitbee wallet using one of the various payment styles. You can load up your wallet in advance.
Send your funds for Free
Check the Canadian dollar exchange rate, and also send funds over $500 from your Remitbee Wallet for free-no unforeseen charges.
